Lernkarten

Karten 73 Karten
Lernende 2 Lernende
Sprache English
Stufe Universität
Erstellt / Aktualisiert 24.06.2020 / 25.06.2020
Lizenzierung Keine Angabe
Weblink
Einbinden
0 Exakte Antworten 22 Text Antworten 51 Multiple Choice Antworten
Fenster schliessen

For any particular good, an increase in the price of a complement would most likely
result in?

A movement along the demand curve to the right

A shift in the demand curve to the left

A shift in the demand curve to the right

Fenster schliessen

Consider the following statements:
Statement I: If close substitutes are easily available for a particular good, the price
elasticity of demand for that good cannot be identified.
Statement II: If a relatively large proportion of a person’s income is spent on a
particular good, the price elasticity of demand for that good is most likely
relatively high.
Which of the following is true?

Both statements are incorrect.

Both statements are correct.

Only one statement II is correct

Fenster schliessen

Consider the following statements:
Statement I: If the price elasticity of demand for a good equals -1.25, an increase in
price will result in a decrease in total revenue.
Statement II: If a decrease in price leads to a decrease in total revenue, demand for
the good is price elastic.
Which of the following is true?

Only Statement I is correct.

Only Statement II is correct.

Both Statements are incorrect.

Fenster schliessen

When a rent ceiling (maximum price) is imposed below the equilibrium market
price, which of the following is most likely?

The unit price falls while quantity supplied increases

The unit price rises while quantity demanded falls

The unit price falls and the quantity supplied also falls.

Fenster schliessen

Which of the following is least likely regarding indifference curves?

For a given consumer, the slope of one indifference curve changes along the indifference curve.

The indifference curves for two consumers can never intersect.

indifference curves are convex when viewed from the origin.

Fenster schliessen

Robert’s MRSxy is given by 2.5. If Good Y is on the y axis and Good X is on the x axis,
the slope of the indifference curve is closest to?

2.5

-2.5

-0.4

Fenster schliessen

This question addresses the budget constraint: The amount of Good A that a
consumer would have to give up in order to consume 1 more unit of Good B is given
by:

The ratio of the price of Good A to Good B

The marginal rate of substation of Good B for Good A

The ratio of the price of Good B to Good A

Fenster schliessen

For any particular good, an decrease in the price of a complement would most likely result in?

A movement along the demand curve to the right

A shift in the demand curve to the left

A shift in the demand curve to the right